OliverMcMillan, a boutique real estate developer known for creating artistic, enduring destinations, has broken ground on SALT – a four-story, 265-unit, Class A apartment community in Tempe, Ariz.
The development will feature studio, 1, 2, and 3 bedroom living spaces. Residents will enjoy boutique resort style amenities with two pools, spa, yoga lawn, poolside cabanas, multiple outdoor barbeque areas, lush landscaping, and direct frontage on Tempe Town Lake. The community also includes a large gym complete with cardio equipment, free weights and resistance training equipment, a media room, and a spacious social room. SALT (formerly the Lofts@Hayden Ferry) is slated to open in early 2016.
“We created a modern, multi-family community that offers easy transition between indoor and outdoor living, drawing inspiration and vital energy from both environments,” said Morgan Dene Oliver, CEO of OliverMcMillan. “The location near Mill Avenue and Tempe Town Lake inspired the multi-faceted idea of SALT – our take on contemporary elemental living that we think will be very enjoyable for residents.”
The 3.7 acre project site is part of the Hayden Ferry Lakeside mixed-use Master Plan which includes residential, retail, hotel and office uses. The site is nearby to Arizona State University Campus and the Mill Avenue Entertainment District. It is next door to the new State Farm campus currently under construction.
“We brought together a fantastic team to make SALT stand out for its contemporary design and livability,” said Eric Buchanan, Managing Director of Acquisitions and Development for OliverMcMillan.
OliverMcMillan’s development team members include Amstar as equity partner, Comerica serving as the construction lender, and Adolfson & Peterson Construction serving as general contractor.